What to eat. Cinespace Studios has sold for $1.1B to TPG Real Estate - ReelChicago.com Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. Polling Place: Is Patrick Kane the greatest Blackhawk ever. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. Feds' mole's disappearing debt - Chicago Sun-Times The film studio's sale is expected to accelerate the growth of Chicago's film industry and bring more production jobs to the area, new owners said. Chicago has always been a major player in film and TV production, but truth be told, this family took it to a whole new level. Outlets including Crains Chicago Business and Deadline.com are reporting a sale price of $1 billion. As a Cinespace executive, Pissios also wore a wire on former Teamsters boss John Coli Sr., who pleaded guilty to extorting more than $300,000 from the company to maintain labor peace at the studio. Bridgeport bank failure fallout: Washington Federal Bank for Savings Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. Keep up to date with our latest industry news, from across the world. Contact | Cinespace Cinespace Chicago Film Studios Welcomes New Productions, Expands Cinespace intends to grow its employee base in Chicago and Toronto, officials said. Cinespace Chicago Film Studios Welcomes New Productions, We welcome this acquisition by TPG and look forward to their continued investment in Cinespace and commitment to growing their operations in Toronto. Monique Scott was sworn into City Council to replace her brother, former Ald. It was a stunning rebuke. In TPG, weve found a partner who loves our great city of Toronto, respects Cinespaces heritage and tradition of philanthropy, and has the expertise and resources to help lead the company into its next phase of growth, said Steve Mirkopoulos, president and CEO of Cinespace Toronto. Ald. Michael Scott Jr. resigning from City Council, joining Cinespace The Midwests production hot spot and second-largest film studio outside of Los Angeles in North America, recently added another 105,000 square foot industrial building near its main campus to expand its footprint and bring more stages online for the busy content creation industry. Based on the comic book series by Brian K. Vaughan, Paper Girls is an Amazon series created by two studios, Legendary Television and Plan B, and written by Stephany Folsom, who previously worked on Toy Story 4 and Thor: Ragnarok. The two are not related. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. Our clients create groundbreaking films and television. I am thrilled to see this acquisition expand our capability for content creation and look forward to the jobs and productions it will bring to our region. Skip to content About Us Locations CinecaresNews Contact Log In Cinespace Chicago Cinespace Toronto Subscribe for full access to The Hollywood Reporter. Returning series filming at the Chicago campus includeChicago Fire, Season 9;Chicago P.D., Season 8;Chicago Med, Season 6; andThe Chi, Season 4; South Side, Season 2; andThe Big Leap. But the latest news, received glee-fully by producers, may deliver still more impetus to Chicago's impressive growth . Im around for six more months. After that, Alex and the other members of the family owned business will no longer be involved in the operation. Every dime we make fundsreportingfrom Chicagos neighborhoods. Consumer appetite for original content has accelerated through the pandemic, leading to a dramatic increase in the demand to produce new films and television and in turn, a surge in the need for studio space, Bantasz said. Masking, social distancing, and capacity limits in public and workplaces continue to be enforced at Cinespace Chicago Film Studios for the health and safety of staff and all production workers. About Us Locations CineCares News Contact Cinespace Chicago Cinespace Toronto Studio Babelsberg Cinespace We're the perfect partner for your next production. New production scheduled to film at Cinespace Chicago Film Studios this spring includeLightyears,61stStreet,Power Book IV: Force, and Paper Girls. Today, TREP has $5.3 billion of assets under management. State grants heavily financed Cinespaces expansion into Chicago under Pissios uncle, Nick Mirkopoulos, who founded Cinespace in Toronto in the 1980s. I am thrilled to see this acquisition expand our capability for content creation, Lightfoot said. Pascal Sabino 1:39 PM CST on Nov 12, 2021 Cinespace, the studio that is home to Chicago-based film and TV productions including Chicago Fire, has been sold to the real estate arm of TPG, a buyout firm based in Texas and California, the two companies announced Friday. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. With 42 sound stages on its 2.2 million square foot main campus in Chicago's North Lawndale neighborhood and additional studios at 31st and Kedzie, Cinespace is the largest film studio outside of California. Thanks for subscribing to Block Club Chicago, an independent, 501(c)(3), journalist-run newsroom. Subscribe to Block Club Chicago,an independent, 501(c)(3), journalist-run newsroom. The CineCares Foundation aims to empower Chicago residents in these communities by creating opportunities for education and employment in the TV and film industry. Forceis set on Chicagos South Side and stars Chicago Northwest Side native Joseph Sikora and also welcomes Anthony Fleming (Prison Break) and Lucien Cambric (Chicago PD) to the show. He has the pedigree, too: his grandfather Bob was a left tackle and offensive captain on Packers teams that won five NFL championships from 1961-67. They will find no better place in Canada to do business and we are excited and confident in the future of Cinespace., Toronto Mayor John Tory added: "Toronto continues to be a leader in film and TV and that has been made possible through investments from leading companies who see the value and potential in our city and our residents. Productions ramped back up once the city reopened in June. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing partners and COO and CFO, respectively. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed O'Neill will star in the sci-fi drama. Keep up to date with our latest industry news, from across the world. For more information, visit www.tpg.com. One of Pissios' deepest passions while CEO of Cinespace was to provide education and job training within the film industry. Alex Pissios On the Future of Cinespace Chicago and His - News Anyway Egan most recently was head of production services at Netflix, and Gee was the CEO of Strive and CFO and president of LifeStorage, two former TREP portfolio companies. Community has always been core to who we are, said Alex Pissios, CEO of Cinespace. Thank you Alex for being the best ambassador this film community could ask for. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. I want to thank TPG for their commitment and investment in Toronto and the future of Cinespace. Were expanding beyond our workforce development program in Chicago to Toronto so stay in touch for updates. Cinespace Chicago Film Studios' sprawling 60-acre campus is located on the West Side, with the main studios at 2621 W. 15th Place in North [] Cinespace Studios announces that Jane Williamson will join the company as Head of Client Services & Studio Operations in Chicago.Nick Pissios will be leaving the position.. Jane was most recently Production Supervisor on season 2 of Lionsgate TV's Power Book IV: Force and Legendary Entertainment's Night Sky. I look forward to seeing Cinespace and the entire film sector in the city with all the jobs that rely on it continue to grow over the coming years.". As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing. and Cassels Brock & Blackwell LLP served as legal counsel to Cinespace. Separately, plans were announced in May for a $60 million soundstage project on the South Side spearheaded by film producer Derek Dudley and Loop Capital Chairman and CEO James Reynolds Jr. That studio, if it comes to fruition, will be called Regal Mile Studios and be located in the vicinity of South Stony Island Boulevard, East 77th Street and South Chicago Avenue. The companys Booth Avenue Studios hosted shoots for Guillermo del Toros The Strain, Heroes: Reborn, Rupture and Between. Cinespace Chicago Film Studios Being Sold For $1 Billion Austin, Garfield Park, North Lawndale Cinespace Chicago Film Studios Being Sold For $1 Billion The film studio's sale is expected to accelerate the growth of Chicago's film industry and bring more production jobs to the area, new owners said. TPG was founded in 1992 and now has approximately $108 billion of assets under management with investment and operational teams in 12 offices around the world. Williamson is a native Chicagoan and rose through the ranks of commercial, non-scripted and scripted TV production starting as a production assistant. The release does not mention any role for Cinespace President and CEO Alex Pissios, whose run as the head of Cinespaces Chicago operation has seen the company expand into the citys premier studio space and purportedly the largest film campus east of California. What you need to live your best life now. TPG Real Estate Acquires Leading Sound Stage Owner Cinespace Studios Teagan Pompa - Senior Studio Technician - Cinespace Chicago Film TPGs purchase of Cinespace is not an outlier, but part of a larger trend, thanks to a nationwide shortage of available stage space due to the onslaught of projects demanded by streaming services. To learn more, please refer to the cookie policy. The statement also includes praise from Mayor Lori Lightfoot and Gov. Skoronski is productive: in three seasons as Northwesterns starting left tackle, he allowed just five sacks in 2,364 snaps. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. Cinespace intends to grow its employee base at each studio as a result of the transaction. Gov. Cinespace Studios in Chicago has 33 stages, with 15 more under development. Eastdil Secured provided financing advisory to TREP for the transaction. You can accept the use of cookies or other identifiers by closing or clicking the accept button. We have been studying the content creation and production landscape as an investment theme for a few years, and in that time have developed a relationship with the family behind Cinespace. One of the projects launched under Pissios tenure is a pipeline program called CineCares. News about the Studio and Production Facility Industry | Cinespace We also wanted to know or did we? The combined Cinespace Chicago and Toronto film studios, founded by the Mirkopoulos and Pissios families, are the largest soundstage in the United States outside of Hollywood. Cinespace Chicago Film Studios shoots shows like "Chicago Fire" and "The Chi" at its North Lawndale campus at 2621 W. 15th Place. 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Alexander Pissios, President of Cinespace Chicago Film Studios joins Steve Bertrand on Chicago's Afternoon News to talk about his plan to expand its studios by 50% by the end of 2021. Illinois offers production companies 30% tax credits on production costs and on salaries up to $100,000 through 2026. Michael Scott Jr. (24th) is resigning from the City Council to take a job with Cinespace Studios, a West Side movie studio."Cinespace Studios is an important part of the local . Alex Pissios has confirmed that Cinespace Chicago Film Studios and Cinespace Toronto, the amazing empire that he and his uncle Nick Mirkopolous built on a dream, has been sold to TPG Real Estate, a West Coast based global alternative asset manager. Cinespace Chicago Film Studio president Alexander S. "Alex" Pissios at a news conference last February at Cinespace Chicago Film Studio. 24th Ward candidates headed to April runoff. Upon taking office, Quinns Republican successor Bruce Rauner, demanded Cinespace return the grant money following a Chicago Sun-Times investigation that showed that the parcels Cinespace had intended to buy were not for sale. Cinespace | Film Studio Locations, Production and Sound Stage Facilities Cinespace Chicago Film Studio campus in North Lawndale. Its how we build something beyond facilities, develop a stronger, more diverse workforce, broaden educational platforms, change the narrative behind the camera, and affect meaningful change to create a more vibrant industry. TPGs investment will expand these efforts and provide more jobs for Illinois, one of the many reasons why we feel they are the right fit to take on the business, continued Alex Pissios, President and CEO of Cinespace Chicago. Cinespace furthers their vision to build a premier global production A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. ft. of what use to be the old Ryerson Steel Company. With the city at capacity, having a private equity firm running Cinespace could lead to growth. For 10 years, the majority of TV and movie projects in Chicago have been filmed at Cinespace Chicago Film Studios, the soundstage complex in North Lawndale. Cinespace sold to buyout firm in deal reportedly worth $1 billion Reporting to Eoin Egan, COO and Co-Managing Partner, she will be responsible for . // As The Hollywood Reporter noted in August: The studio lot industry is riding high on private equity money as investors bet that the busy facilities boosted by streaming projects will offer better returns than office towers.. Follow Your Favorite Chicago's Afternoon News Personalities on Twitter:Follow @SteveBertrand Follow @kpowell720 Follow @maryvandeveldeFollow @LaurenLapka To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Cinespace Chicago Entertainment | Film/Movies. Pissios went on to be president of Cinespace Chicago Film Studios, the post he held when federal prosecutors accused him of failing to disclose all of his assets in his bankruptcy and got him to . 1448 S Rockwell St Chicago, IL 60608 - Alquileres en Chicago, IL (StockSnap / Pixabay). On Tuesday, Mayor Lori Lightfoot of Chicago, the first Black woman and first openly L.G.B.T.Q. A TPG official, Keith Gee, will be chief financial officer and the other co-managing partner. The results of that poll, in a word: Oof. Cinespaces flagship studio campus on Kipling Avenue in Toronto has played host to shoots for Reign, Beauty and the Beast, Goon: Last of the Enforcers and 12 Monkeys. TPGs investment will expand these efforts and provide more jobs for Illinois.. Cinespace is up and rolling with 4 new series and more Reel Chicago News Watch. media@tpg.com Power Book IV: Force, the third spin-off of the popular Starz Power series produced by Lionsgate, is also shooting at Cinespace Chicago Film Studios. The GM and coach seem to be more cohesive than Ryan Pace was with Matt Nagy and John Fox. "Jane has worked on the Cinespace lot for many years in several different roles and understands the needs of a production and the Chicago film and TV community," Egan says in a release. The Toronto studio launched in 1988. their facilities, and in 2011, Cinespace Chicago Film Studios opened on the 70-acre site of the former Ryerson steel complex. Founded by the Mirkopoulos family in Toronto together with the Pissios family in Chicago, Cinespace specializes in the development, management, and operation of studio space and support facilities for the film, television, and digital media production industry. ft. of what use to be the old Ryerson Steel Company. In TPG, weve found a partner who loves our great city of Toronto, respects Cinespaces heritage and tradition of philanthropy, and has the expertise and resources to help lead the company into its next phase of growth, said Steve Mirkopoulos, President and CEO of Cinespace Toronto.